Casdin Capital, Llc Buys 175,000 Shares of GeneDx (NASDAQ:WGS) Stock

GeneDx Holdings Corp. (NASDAQ:WGS) Director Casdin Capital, Llc purchased 175,000 shares of the company’s stock in a transaction on Monday, May 18th. The stock was bought at an average price of $42.55 per share, for a total transaction of $7,446,250.00. Following the completion of the purchase, the director directly owned 3,182,164 shares of the company’s stock, valued at $135,401,078.20. The trade was a 5.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Casdin Capital, Llc also recently made the following trade(s):

• On Wednesday, May 20th, Casdin Capital, Llc purchased 140,000 shares of GeneDx stock. The stock was bought at an average price of $43.81 per share, for a total transaction of $6,133,400.00.
• On Tuesday, May 19th, Casdin Capital, Llc bought 185,000 shares of GeneDx stock. The shares were acquired at an average price of $42.60 per share, for a total transaction of $7,881,000.00.

GeneDx Stock Performance

Shares of WGS traded up $2.60 during mid-day trading on Wednesday, reaching $44.73. 1,140,005 shares of the company’s stock were exchanged, compared to its average volume of 1,984,668. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.09 and a quick ratio of 2.95. The stock has a market capitalization of $1.33 billion, a PE ratio of -16.69 and a beta of 2.06. The business’s fifty day simple moving average is $61.30 and its 200-day simple moving average is $99.89. GeneDx Holdings Corp. has a 52-week low of $32.21 and a 52-week high of $170.87.

GeneDx (NASDAQ:WGS) last announced its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The business had revenue of $102.25 million for the quarter, compared to analysts’ expectations of $112.46 million. GeneDx had a positive return on equity of 9.15% and a negative net margin of 17.58%.During the same quarter last year, the business posted ($0.23) earnings per share. On average, equities research analysts expect that GeneDx Holdings Corp. will post -1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research lowered shares of GeneDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. BTIG Research lowered their target price on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of GeneDx from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Jefferies Financial Group set a $150.00 price objective on shares of GeneDx in a research report on Monday, February 23rd. Finally, Craig Hallum reiterated a “buy” rating and issued a $85.00 price objective on shares of GeneDx in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.43.

Hedge Funds Weigh In On GeneDx

A number of hedge funds and other institutional investors have recently bought and sold shares of WGS. Westfield Capital Management Co. LP raised its stake in shares of GeneDx by 87.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,018,261 shares of the company’s stock worth $132,435,000 after buying an additional 474,167 shares during the last quarter. ARK Investment Management LLC acquired a new position in shares of GeneDx during the 3rd quarter worth $48,157,000. Franklin Resources Inc. raised its stake in shares of GeneDx by 60.4% during the 4th quarter. Franklin Resources Inc. now owns 1,092,988 shares of the company’s stock worth $142,154,000 after buying an additional 411,607 shares during the last quarter. Invesco Ltd. raised its stake in shares of GeneDx by 59.2% during the 4th quarter. Invesco Ltd. now owns 786,466 shares of the company’s stock worth $102,288,000 after buying an additional 292,394 shares during the last quarter. Finally, Amova Asset Management Americas Inc. acquired a new position in shares of GeneDx during the 3rd quarter worth $31,444,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.